With 2018 now behind, the 4th quarter ends. The Wood River Valley completes the year in fantastic form riding the train into one of its best fourth quarter’s in years.
- Over all condo market very healthy with some interesting data to support good news for buyers. In Warm Springs everything remains relatively flat and what is exciting about this is price points have stayed about the same from a year ago. In Ketchum, the average sale price has gone down 19%, 826k to 666k, and the total dollar volume is down 14% which means this could begin to shift to become a better buyer’s market. Remember in the previous two quarters Ketchum condo sales have either remained the same or have been slightly below.
- The market for single family homes is still showing signs of real strength. The exceptional higher end is the current beat of Sun Valley, Elkhorn losing inventory due to increased movement, Ketchum still strong, and Bellevue is slowing down but making money. The numbers for Hailey reflect national trends and prediction with a large contingency of first time home buyers and millennials getting into the market. Momentum continues to build with the numbers to prove it. In a time of year where we can easily go into a back seat slide it’s looking like June down there.
- Vacant Land is making a comeback, however in Bellevue you are going to get the best bang for your buck as the average sale price has just gone down 14%, 128k to 109k. Ketchum and Warm Springs are up up up.
On the mortgage front, the average rate has stabilized at 4.55% while nationally home prices have slowed down. In the black from a month ago yet 7% below a year ago. Economists predict that this has the makings of a potentially robust next few months in the real estate market.
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